Toast, Inc. (NYSE:TOST) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Toast, Inc. (NYSE:TOST) have been given an average rating of “Moderate Buy” by the twenty-three research firms that are covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $45.5455.

Several equities analysts recently commented on the company. Truist Financial set a $42.00 target price on Toast in a research report on Tuesday, January 20th. Royal Bank Of Canada set a $45.00 price objective on Toast in a research note on Wednesday, November 5th. DA Davidson cut their price objective on Toast from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. Wells Fargo & Company upgraded shares of Toast to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, BNP Paribas Exane upgraded shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 target price for the company in a research report on Monday, December 1st.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 3,303 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $113,557.14. Following the sale, the general counsel directly owned 235,757 shares in the company, valued at $8,105,325.66. This represents a 1.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Gomez sold 1,437 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total value of $43,598.58. Following the sale, the chief financial officer directly owned 164,629 shares of the company’s stock, valued at $4,994,843.86. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 100,856 shares of company stock valued at $3,540,449. Corporate insiders own 12.14% of the company’s stock.

Institutional Trading of Toast

Large investors have recently made changes to their positions in the business. Capital International Investors lifted its position in Toast by 7.4% during the 3rd quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock worth $1,768,256,000 after buying an additional 3,351,545 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Toast by 0.8% in the third quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company’s stock worth $1,634,339,000 after acquiring an additional 352,435 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Toast by 1.0% during the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock worth $538,259,000 after purchasing an additional 157,394 shares in the last quarter. State Street Corp grew its stake in shares of Toast by 3.5% during the third quarter. State Street Corp now owns 9,538,312 shares of the company’s stock valued at $348,244,000 after purchasing an additional 325,423 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Toast by 2,432.8% in the third quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock valued at $299,957,000 after purchasing an additional 7,891,383 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Stock Up 2.4%

Shares of TOST opened at $27.71 on Monday. The stock has a market cap of $14.27 billion, a price-to-earnings ratio of 64.44 and a beta of 1.93. Toast has a 12 month low of $26.92 and a 12 month high of $49.66. The company has a 50-day moving average price of $34.24 and a two-hundred day moving average price of $37.85.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.